At first glance valuing an estate’s contents seems straightforward enough but it is surprisingly easy to get it wrong.
Every day, solicitors and executors submit probate valuations that drastically overstate the worth of ordinary household items. Whether through guesswork or sentiment the result is inflated figures that can have financial consequences for taxable estates.
It’s a quiet but costly problem — and one that’s easily avoided.
The Most Commonly Overvalued Items in Probate
We regularly see the same categories of items overestimated, with the usual suspects being:
White goods
Fridges, freezers, washing machines and ovens often make their way onto probate forms with values of £100–£300 apiece.
In reality, unless they’re nearly new, they depreciate quickly and rarely fetch more than scrap value.
Buyers want efficiency, reliability, and warranties — not a second-hand machine from an estate sale.
Stairlifts and mobility scooters
These are often purchased at great expense, but resale markets are limited and purchases are always driven by urgency.
Few buyers have time to wait for a used model to appear locally as their loved one needs help immediately.
Most stairlifts end up removed and scrapped at a cost to the estate, not a benefit.
Clothing
Most clothing, unless it’s high-end designer or historic in nature, has little to no resale market.
Even charity shops are becoming increasingly selective, meaning you often can’t even give clothes away.
Desktop computers
A computer needs to be professionally wiped before it can be sold, which is a process that can often cost more than the machine is worth, rendering the item effectively worthless on the open market.
Books
Large book collections can look valuable, especially to those who loved them. But unless you’re dealing with a sought-after first edition, signed volume or rare print, most books have no commercial resale value. They are usually donated, pulped, or sold in bulk for pennies.
Why Overvaluation Matters
It’s easy to assume that overvaluing a few household items is harmless. But once an estate crosses the Inheritance Tax threshold, every pound counts.
If an estate falls within the IHT net then every pound declared unnecessarily will cost the estate 40 pence in tax.
That’s not theoretical. It’s real money, lost because a second-hand stairlift was listed at £1,000 instead of £100, or because a stack of old books was guessed at £200 instead of £0.
HMRC doesn’t tax based on what something cost or what someone feels it’s worth. They expect open market value, which is what an item would actually sell for today in its current condition.
The Simple Way to Get It Right
The good news is this problem is entirely avoidable. The easiest, HMRC-approved way to ensure personal possessions are valued accurately is to instruct a professional valuer.
At Swift Values, we specialise in probate valuations that reflect true market conditions. We know which items hold value and which don’t.
Our expert reports are clear, defensible, and designed to stand up to scrutiny, giving solicitors and executors peace of mind and protecting clients from unnecessary tax.
This article was submitted to be published by Swift Values as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
